As per a report from PWC, annual global sports revenues are projected to reach $146 billion this year. Big data and Analytics techniques are being rapidly introduced in sports. The major venues of its application spans avenues like Training & Practice, Game Theory, Player Profile Selection & Development, Schedule Optimization, Managing the Legal Environment, Marketing, and Financial & Resource Planning. Meanwhile, sports-related businesses—such as media providers—use analytics more often to study relevant markets—from fantasy sports to sponsorship. The possibilities are boundless and the next proving grounds for Analytics could very well become sports.
As per Gartner, Digital business could be defined as “the creation of new business designs by blurring the digital and physical worlds”. The adoption of Digital Business, which is a precursor to Business Analytics, is not a new phenomenon relatively, as companies have been adopting a simpler and more rudimentary version of the Digital Business that we know today. Today we are going to describe in detail, the various stages of Digital Business adoption.
One might be tempted to think we are living in a startup bubble, with investors being largely optimistic about startups and investing millions of dollars in them, with many startups crossing the billion dollar valuation on a regular basis. But managing a startup is tough, with almost unreal targets set in between funding rounds.
In the current macroeconomic environment post economic downturn and with rise in number of regulatory norms, growth in the Banking, Financial Services and Insurance Industry is hard to come by. Add to that the growing demand of customers for better services as a direct relation to them also being better informed, and they will not think twice to switch to a competitor offering if they are not happy with the services. Such a situation calls for a complete revamp in the working methodology of BFSI Industry. Find out how adoption of Analytics can foster this.